Wise move or not?
Thread Starter
2000 Watt CAFz'r
Joined: May 2003
Posts: 2,819
So as it sits I'm finding it tough to even get from paycheck to paycheck.Not whining just stating things as are..just keep reading..
I am beginning to look into moving(once again) into a buddies place to save on rent,phone,etc.Estimated savings here about $300/mth
I am going to doing some auctions on eBay in the next week or so.Planning to auction off about 75% of my 8 track collection,players,etc.
I have also taken on extra hours at work and have more available when needed.
As well,I have looked ahead and found that I get 3 paychecks come July and have already started planning working my a$$ off all that month.Possibly working 7days a week for about 2-3 weeks..major paychecks I think to hopefully get some debts paid,done and finally off my back.
Now,do you think I am going about this the right way or is there another way that I am not looking at?
Just looking for some input here to start getting me ahead for once... [img]graemlins/thumb.gif[/img]
I am beginning to look into moving(once again) into a buddies place to save on rent,phone,etc.Estimated savings here about $300/mth
I am going to doing some auctions on eBay in the next week or so.Planning to auction off about 75% of my 8 track collection,players,etc.
I have also taken on extra hours at work and have more available when needed.
As well,I have looked ahead and found that I get 3 paychecks come July and have already started planning working my a$$ off all that month.Possibly working 7days a week for about 2-3 weeks..major paychecks I think to hopefully get some debts paid,done and finally off my back.
Now,do you think I am going about this the right way or is there another way that I am not looking at?
Just looking for some input here to start getting me ahead for once... [img]graemlins/thumb.gif[/img]
1000 Watt CAFz'r
Joined: Dec 2002
Posts: 1,484
SOunds good man [img]graemlins/thumb.gif[/img] one thing to consider i think when moving in with a friend is....the effect it will have on your friendship (could be good or bad,just something to consider)I've been down that road before with people moving in with us....but hey sounds good, 300$ savings per month sounds pretty decent, another $300 dollars a month towards debt, right? if it works out good.......glad to hear your headin in the right direction man!! [img]graemlins/thumb.gif[/img] [img]smile.gif[/img] have a good one!
-Brandyn
[ February 06, 2004, 12:37 AM: Message edited by: Team Obsession ]
-Brandyn
[ February 06, 2004, 12:37 AM: Message edited by: Team Obsession ]
Find a job that will give you an apprenticeship, so in a few years you have something to work with and can make decent bucks. Schooling is the best option though. Even if you make a couple bucks less at the start, you will eventually make you way up.
My friend works as an electrician (Jason, you have seen him as shows in the blue van) and first year they make $11, second they make $16, then $20, and after that you are fully certified and can make over $27 easily. Then even if you take out a loan, you can pay it off quick. You have to go to school for two months a year though, but that isnt too bad.
Other route is to take out a student loan (which is up to $12000 a year, the government pays back a percentage of it, and you have no interest until after you get your degree) and go to college or university.
I am taking that route, and am halfway through engineering, and the $10000 per year i make working at the mine in the summer pays for everything ($22 an hour). The university offers emplyment with the at $52000 a year if i cant find a job when i graduate, so any money i might have to take out is guaranteed to be payed off quick, but i am going for M.D. right after that anyways.
Basically, think about the long term and get something that will help you in ten years rather than two months. Student loans are nice cause they dont get bigger, and you are guaranteed to pay them off when you get out.
BTW, there is a shortage of bricklayers in alberta so the government will pay for a 6 month course for you to take, after which they will pay you $40, but it is TOUGH work. My mom works with people going back to school so she has all the information and stuff.
Just my 1.5 cents.
My friend works as an electrician (Jason, you have seen him as shows in the blue van) and first year they make $11, second they make $16, then $20, and after that you are fully certified and can make over $27 easily. Then even if you take out a loan, you can pay it off quick. You have to go to school for two months a year though, but that isnt too bad.
Other route is to take out a student loan (which is up to $12000 a year, the government pays back a percentage of it, and you have no interest until after you get your degree) and go to college or university.
I am taking that route, and am halfway through engineering, and the $10000 per year i make working at the mine in the summer pays for everything ($22 an hour). The university offers emplyment with the at $52000 a year if i cant find a job when i graduate, so any money i might have to take out is guaranteed to be payed off quick, but i am going for M.D. right after that anyways.
Basically, think about the long term and get something that will help you in ten years rather than two months. Student loans are nice cause they dont get bigger, and you are guaranteed to pay them off when you get out.
BTW, there is a shortage of bricklayers in alberta so the government will pay for a 6 month course for you to take, after which they will pay you $40, but it is TOUGH work. My mom works with people going back to school so she has all the information and stuff.
Just my 1.5 cents.
Thread Starter
2000 Watt CAFz'r
Joined: May 2003
Posts: 2,819
As far as moving in with this guy.we each have a few concerns that we are discussing before approaching his roommate who acctually owns the house.But I think it could work.He's more of ahome body and in the summer I'm hardly ever home.This house is also about a 5 minute walk from from Rob VO's house too... [img]graemlins/headbang.gif[/img]
As well,I think this year I will have a chnace to go to school for my partsman apprenticeship.This is a company paid for deal too,so even better for me.But I likely wont hear anything of that til about june or so...we'll see...take er she comes right? [img]graemlins/beer.gif[/img]
As well,I think this year I will have a chnace to go to school for my partsman apprenticeship.This is a company paid for deal too,so even better for me.But I likely wont hear anything of that til about june or so...we'll see...take er she comes right? [img]graemlins/beer.gif[/img]
50 Watt CAFz'r
Joined: Jun 2003
Posts: 372
If your living paycheque to paycheque or worse than I think you need to move in with this guy for sure. $300/month can really help your situation. Have you thought of any other ways to get your finances under control? Maybe all your spl road trips and your car audio obsession are interfearing? Do you have premium cable? High Speed internet? A cell phone? DO you eat out a lot?
People are in dept because they live beyond their means. It is a terrible way of living and a few years of it when you are young can really make an impact on your financial future.
I live way below my means. I make good money but not a huge amount by any stretch of the imagination. But thanks to my spending habbits and money smarts I have 0 debt and a considerable chunk of money in Mutual Fund RRSP's. In 2003 I had an over return of over 30% on those funds. 30%!! Now chances are you paid close to 30% in credit card debt and fee's.
Debt is very destructive to your over all financial picture (in most cases). Not only does it eat up a lot of what you make in interest and fee's but it also prevents you from investing your money and reaping the benefits of the return.
I highly suggest you take whatever cost cutting measures it takes to get things under control. If you ever need a hand organizing things let me know. Good luck.
People are in dept because they live beyond their means. It is a terrible way of living and a few years of it when you are young can really make an impact on your financial future.
I live way below my means. I make good money but not a huge amount by any stretch of the imagination. But thanks to my spending habbits and money smarts I have 0 debt and a considerable chunk of money in Mutual Fund RRSP's. In 2003 I had an over return of over 30% on those funds. 30%!! Now chances are you paid close to 30% in credit card debt and fee's.
Debt is very destructive to your over all financial picture (in most cases). Not only does it eat up a lot of what you make in interest and fee's but it also prevents you from investing your money and reaping the benefits of the return.
I highly suggest you take whatever cost cutting measures it takes to get things under control. If you ever need a hand organizing things let me know. Good luck.
Thread Starter
2000 Watt CAFz'r
Joined: May 2003
Posts: 2,819
Originally posted by Gettnbig:
If your living paycheque to paycheque or worse than I think you need to move in with this guy for sure. $300/month can really help your situation. Have you thought of any other ways to get your finances under control? Maybe all your spl road trips and your car audio obsession are interfearing? Do you have premium cable? High Speed internet? A cell phone? DO you eat out a lot?
People are in dept because they live beyond their means. It is a terrible way of living and a few years of it when you are young can really make an impact on your financial future.
I live way below my means. I make good money but not a huge amount by any stretch of the imagination. But thanks to my spending habbits and money smarts I have 0 debt and a considerable chunk of money in Mutual Fund RRSP's. In 2003 I had an over return of over 30% on those funds. 30%!! Now chances are you paid close to 30% in credit card debt and fee's.
Debt is very destructive to your over all financial picture (in most cases). Not only does it eat up a lot of what you make in interest and fee's but it also prevents you from investing your money and reaping the benefits of the return.
I highly suggest you take whatever cost cutting measures it takes to get things under control. If you ever need a hand organizing things let me know. Good luck.
If your living paycheque to paycheque or worse than I think you need to move in with this guy for sure. $300/month can really help your situation. Have you thought of any other ways to get your finances under control? Maybe all your spl road trips and your car audio obsession are interfearing? Do you have premium cable? High Speed internet? A cell phone? DO you eat out a lot?
People are in dept because they live beyond their means. It is a terrible way of living and a few years of it when you are young can really make an impact on your financial future.
I live way below my means. I make good money but not a huge amount by any stretch of the imagination. But thanks to my spending habbits and money smarts I have 0 debt and a considerable chunk of money in Mutual Fund RRSP's. In 2003 I had an over return of over 30% on those funds. 30%!! Now chances are you paid close to 30% in credit card debt and fee's.
Debt is very destructive to your over all financial picture (in most cases). Not only does it eat up a lot of what you make in interest and fee's but it also prevents you from investing your money and reaping the benefits of the return.
I highly suggest you take whatever cost cutting measures it takes to get things under control. If you ever need a hand organizing things let me know. Good luck.
As far as excessive spending,no cell,even just cancelled my pager,got rid off al the extra calling features on my landline,when and if I do eat out its typically BK or McPukes ro something el cheapo.Been eating at home alot more as of late.
Anyway,thanks for the offer of help man...mucho appreciato!! [img]graemlins/beer.gif[/img]
Guest
Posts: n/a
^ Dude, I'm gonna be frank here.. A land line with a bunch of 'extra' features AND a Cellular AND a Pager. Helloooo - wake up dude. You are a single guy - a cell is all you need. Waste of money.
You live by yourself. Man, why? You are in harsh financial shape - you should have had a roomie for at least the last year already. Waste of money.
I hear about your parts job - and that is fine. Why you're not humping a rig for $20+ an hour I don't know but that is your deal. Again single guy - get a PART TIME JOB on top of your full time one. Dammit, I'm 33, have 2 kids, a wife and all the stuff that goes with it and we BOTH still work 2 jobs. I've worked 2 jobs since I was 19 and even held down 2 jobs when I went back for my engineering.
It's good that you keep talking about cutting back an getting ahead but reality is you still want all the toys and still talk about competing (costs $$$$) when you are destitute man.
Suck it up for a year or two and get rid of ALL the things that cost money. Rent, food, utilities, debt repayment. That's it. After that you will be debt free and you'll find that you actually think before spending any money. That'sa good thing.
You live by yourself. Man, why? You are in harsh financial shape - you should have had a roomie for at least the last year already. Waste of money.
I hear about your parts job - and that is fine. Why you're not humping a rig for $20+ an hour I don't know but that is your deal. Again single guy - get a PART TIME JOB on top of your full time one. Dammit, I'm 33, have 2 kids, a wife and all the stuff that goes with it and we BOTH still work 2 jobs. I've worked 2 jobs since I was 19 and even held down 2 jobs when I went back for my engineering.
It's good that you keep talking about cutting back an getting ahead but reality is you still want all the toys and still talk about competing (costs $$$$) when you are destitute man.
Suck it up for a year or two and get rid of ALL the things that cost money. Rent, food, utilities, debt repayment. That's it. After that you will be debt free and you'll find that you actually think before spending any money. That'sa good thing.
